Tesla, Inc. $TSLA Shares Acquired by First United Bank & Trust

First United Bank & Trust increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 76.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,074 shares of the electric vehicle producer’s stock after acquiring an additional 1,328 shares during the quarter. First United Bank & Trust’s holdings in Tesla were worth $976,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at about $27,000. Newton One Investments LLC increased its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, July 24th. UBS Group reissued a “sell” rating on shares of Tesla in a report on Monday, September 22nd. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Finally, Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $337.15.

Tesla Stock Performance

TSLA opened at $459.46 on Thursday. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The business has a 50 day moving average price of $359.13 and a two-hundred day moving average price of $318.62.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.